What Changes Will Come With Iger’s Return?
Hey Disney Park fans. It’s a great big beautiful tomorrow! On November 20th, 2022 the former Disney CEO Bob Iger has returned to Disney as CEO and Bob Chapek has been let go, effective immediately. The news was shared in an email to employees directly from Bob Iger:
“Executive Officer.
When I look at the creative success of our teams across our Studios, Disney General Entertainment, ESPN and International, the rapid growth of our streaming services, the phenomenal reimagining and rebound of our Parks, the continued great work of ABC News, and so many other achievements across our businesses, I am in awe of your accomplishments and I am excited to embark with you on many new endeavors.
I know this company has asked so much of you during the past three years, and these times certainly remain quite challenging, but as you have heard me say before, I am an optimist, and if I learned one thing from my years at Disney, it is that even in the face of uncertainty -perhaps especially in the face of uncertainty -our employees and Cast Members achieve the impossible.
You will be hearing more from me and your leaders tomorrow and in the weeks ahead. In the meantime, allow me to express my deep gratitude for all that you do. Disney holds a special place in the hearts of people around the globe thanks to you, and your dedication to this company and its mission to bring joy to people through great storytelling is an inspiration to me every single day.
Bob Iger”
Igar’s return is a welcome change for many park goers! Chapek’s tenure had been full of controversy, unpopular decisions, and widespread concern that he was doing irreparable damage to a brand beloved by generations. For many guest visiting the parks, the magic was lost under Chapek’s guidance.
Iger was not universally beloved when he departed, but his homecoming has been joyous and rekindled long-lost hopefulness. It one of those you don’t release what you have till it’s gone situations. During Iger’s 15 years as CEO, from 2005 to 2020, Mr. Iger helped build Disney into one of the world’s most successful and admired media and entertainment companies with a strategic vision focused on creative excellence, technological innovation and international growth.
He expanded on Disney’s legacy of unparalleled storytelling with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and increased the Company’s market capitalization fivefold during his time as CEO. Mr. Iger continued to direct Disney’s creative endeavors until his departure as Executive Chairman last December, and the Company’s robust pipeline of content is a testament to his leadership and vision.
Iger, who spent more than four decades at the Company, has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position.
Copyright Disney Parks and Resort
Why was Chapek Fired?
The truth is no one for sure except for the THE WALT DISNEY Company executives, however there’s speculations of course. The Walt Disney Company released more information regarding its firing of now-former CEO Bob Chapek on Monday, November 21, and it appears that the board of directors did not find him in breach of his contract. Chapek was fired by the same board of directors who only recently unanimously voted to extend his tenure as Disney CEO for another three years.
Chapek was only the first Disney executive to be let go. It was announced that Kareem Daniel, the Distribution Chariman was also fired, as Iger announced a reorganization of Disney’s Media and Entertainment Distribution.
We suspect the firing is due to one simple reason, major losses and lack of company growth. Chapek’s sudden departure comes after unprecedented streaming losses caused unfavorable quarterly earnings sent the stock in freefall and fears of layoffs and hiring freezes took hold. On the parks front, there has been attendance in the parks, but no growth and rapid decrease in guest satisfaction. Disney’s largest park competitor, Universal Orlando Resort has seen massive growth and gaining a much larger fan base due to Chapek’s poor choices.
What Will Change in the Parks?
Not to sound repetitive, but we do not know for sure as of yet. But we do have some ideas of what maybe coming, or being eliminated within the parks. We do not see these changes happening immediately, we predict early 2023. Let’s review:
Modifications of the Park Reservation System
We would love to see the park reservation system eliminated, Disney absolutely has enough data analysis to remove this system and still manage the amount of food, staffing, etc for park operations. This could be a great change for your average park guest, and remove a lot of stress for guest.
However, with the announcement of the individual park pricing, we’re not sure if this will happen. We do see the way you make your park reservations changing. We believe you will be able to select your park reservation with your ticket purchase, instead of having to add the reservation through your My Disney Experience profile. This would prevent the issue of guest showing up at the gate, ready to have a magical day only to be turned away and told they cannot enter the park.
Elimination of the Park Hopper Restrictions
When the park reservations we announce, it came with park hopping changes as well. As of now, guest that have purchased the park hopper ticket addition can visit other parks starting at 2:00 PM if the park has not met capacity. Prior to this restriction, guest could park hop whenever they wished as long as the park was not at capacity. If the park reservation system is eliminated we see this being full removed as well.
Big Changes to Genie+
This system has not been well received by park guest. This system replaced the once free FastPass system that allow guest to skip the stand-by queue. This Genie+ System start at 15 dollars per person plus tax per day and give park goers the ability to sip the stand-by line at over 46 different attractions though out all four parks.
The problem with this system is it’s VERY difficult to understand, and you basically need to do homework to learn how to use this system before you visit the parks. If you don't know how to use this system in advance, you’re basically wasting your money. Even if you know how to use the system, you many run into the issue of your favorite attractions not having any more availabilities. Also, the most popular attractions are not included in this system. They are known as Individual Attraction Selections, these are an addition charge to skip the stand-by line. It’s a challenge to say the least.
So what will Iger do about this? We believe will see a similar system to Disneyland Paris Premier Access Passes appearing in the US Disney parks. This system is not to different than Universal’s Express Passes. Basically, it will allow you access 1 time use on each available attraction and you can join the fast lane whenever you want - no time slots! This system will be much more expensive than the Genie+ and would be a limited amount. This would make the stand-by lines move significantly faster.
Once again these are not confirmed, just educated guesses on what’s to come. Disney has announced that on November 28th, 2022 Iger will address Disney Cast Members on the future of the parks. We of course will keep you posted on updates.
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